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Generational Differences in Mobile Payment Preferences

One of the most important things to consider when launching a mobile wallet is the end user, and a mobile wallet will rarely find success if it does not cater to the millennial generation. According to Euromonitor International Survey data, there are stark generational differences in the needs and wants of mobile wallets. Although all age groups expect an in-store mobile payment app to bring about increased security, have the ability to gain rewards and be easy to use, older consumers say they prefer to buy products in store.

As the Global Head of Digital Consumer Research at Euromonitor International, Michelle Evans oversees digital research to provide actionable insights and in-depth analyses into how technology is fundamentally changing commerce. Recognized as a thought leader in digital commerce, she was named to Innotribe’s Power Women in Fintech in 2015 and Asian Entrepreneur’s Women on Top in Tech in 2016. She regularly shares her expertise across industry events whether as a speaker, chairperson or juror. Leveraging her master’s degree in journalism from Northwestern University, she authors a biweekly column in Forbes and has been quoted in several publications globally. She follows the technological advances that are shaping the way consumers browse and buy goods and services with her specialty spanning mobile payments, digital commerce, e-commerce, m-commerce, digital marketing and social media.